![]() ![]() This cross-device attribution gives marketers a view of the end-to-end consumer journey. Once linked, identities previously attached to multiple devices are collapsed into a single identity. Without the ability to track this and tie interactions across channels, content, and devices to one user, it’s virtually impossible to know which marketing initiatives are working and which ones aren’t. Ecommerce marketers need to know the effectiveness of each marketing touchpoint in every consumer journey regardless of where those touchpoints occur. ![]() That’s because you can overly emphasize top or bottom-funnel activities, neglecting touches across the full purchase journey. Valuing only the last touch ignores the very important role each marketing activity had in driving the sale and limits marketers’ ability to develop greater cross-channel cohesion. This journey can occur across desktop and mobile devices. A customer, for example, may discover a new product on Pinterest, rediscover that product through display ad retargeting, research the product via Amazon, and finally make the purchase after receiving a promotional email and/or direct mail. The customer journey has grown increasingly complex, so optimizing for a single action or channel ignores a much bigger picture of how consumers engage with your touchpoints on their way to purchase. According to retail marketing strategist Mike Farrell, attributing a sale wholly to the last (or first) interaction before the purchase is outdated and inefficient. Any interactions before or after that, clicking a Facebook or paid search ad, for example, are not credited with the sale. Single-touch attribution consists of first touch and last touch models, giving the full credit of the sale to the touchpoint a consumer interacted with first or last such as a promotional email or a display ad. But last or single-touch attribution is ineffective for an omni-channel / content / device world Yet many marketers continue to use antiquated attribution models, like last touch, to determine how they optimize their touchpoints to maximize sales and ROI. As a result, marketers are rapidly converging channels, content / offers, and devices along the consumers’ purchase journey, where having the ability to track, measure, and optimize each touchpoint has become the secret weapon. Poor performing campaigns will flop with shoppers, wasting dollars and costing you lost sales. They expect you to know them, show them you know them, and help them at every touchpoint. Hyper-connected consumers expect a highly personalized experience from all their interactions including organic search, retargeting ads, paid search, remarketing email and/or direct mail offers. Shoppers who use multiple channels to conduct product research spend 14% more than single-channel shoppers. 65% compare the in-store price with the online price while in the store.88% of consumers research their purchases online before buying, whether it’s online or in-store.retail sales in 2018 for researching, comparing prices and purchasing. Shoppers will use smartphones in over one-third of total U.S.Marketers know that the shopping landscape is changing drastically with the rise of new channels, content, and connected devices. As these hyper-connected consumers increasingly rely on a variety of digital and physical resources when making purchase decisions, how then do ecommerce marketers effectively engage them AND get more get ROI from their media spending? Ecommerce marketers are adapting their strategies to deliver the right ads with the right offers at the right time and through the right channels & devices More than ever, the consumer purchase journey is evolving into an ever-expanding range of online and offline channels and interactions. Buyers visit a site an average of 9.5 times before making a purchase. “The NRF expects that online retail will grow 8-12%, up to three times higher than the growth rate of the wider industry, racking up nearly $445 billion in sales.” But today’s consumers no longer purchase in a silo they read customer reviews on social media, attempt to price match on Amazon before ever heading in-store, and visit brand websites to understand product details. Can Retailers Benefit from Using Multi-Touch Attribution? How ecommerce marketers can benefit from using multi-touch attributionĮ-commerce, driven by multiple new channels, is a booming business. ![]()
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